Sunday, November 29, 2015

Jim Willie: $1 Trillion/month in Reverse Repos Keeping Zombie System Alive

"This is an interesting 90+ minute interview.
Questions/Topics for the interview include:
• Recently, there was a secret meeting between Russia and a Saudi Prince- Was the meeting about a coordinated oil production cut to move the price higher to save the world’s largest oil producing countries? Or about what to do about Syria and pipelines? Or a mix?
• The IMF has said Saudi Arabia can only survive at most 5 years of low oil prices at their current burn rate in foreign exchange reserves before they go bankrupt too. Almost every other OPEC producer has spent most of their oil profits almost as soon as the profits come in and are in much worse shape than the Saudis. Will OPEC be going to China begging for a bailout if oil prices don’t rise again soon?
• Some Wall St commodity traders are illegally buying $10/barrel oil on the black market from ISIS. Why haven’t the buyers gotten caught?
• In our last interview you talked about a massive oil bust that was coming, but why haven’t we seen banks go bust from shale oil loans yet? Is the Federal Reserve secretly bailing these banks out?
• Christine Lagarde of the IMF seems to approve of the RMB going into the SDR very soon but the US government appears committed to blocking the RMB into the SDR. How much longer can the US government block the RMB going into the SDR?
• What happens to gold and silver supply available if many gold and silver mines shut down and miners start going bust?
• Do you think Wall St is planning on buying gold and silver mines up as they go bankrupt?
• Why do you think Wall St banks are starting to rapidly embrace the block chain technology behind Bitcoin? Is this another part of the elite’s plan for a cashless society where all transactions are taxed and tracked?
• China is negotiating a large currency swap bailout with Venezuela probably in exchange for a massive amount of oil. Will this be the model how the developing world/commodity producing countries with too much US Dollar denominated debt will strategically default on their US debt and then get financing from China and Chinese banks?
• Do you think currency swaps will be the main bailout tool for central banks going forward?
• In early November, Bloomberg put out an article how Wall St banks are trying to offer discounted interest rate swaps to attract more buyers of these products. Why are the banks trying to sell more of these when there’s already so many?..."
at http://investmentwatchblog.com/jim-willie-1-trillionmonth-in-reverse-repos-keeping-zombie-system-alive/

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